Aid charity the British Asian Trust has almost tripled its income, according to its annual report and accounts, due to be filed next week.
The trust increased its income from £2.2m to £6.3m and has also secured a commitment of £3.4m from the Department for International Development, it said in its trustees’ annual report for the year to March 2017.
The funds came from the trust’s first major fundraising campaign, Give a Girl a Future, which raised £4m. The DfID money is a match fund commitment associated with that campaign.
The campaign raised roughly ten times its target.
The trust also launched a development impact bond for education in India, for which it has successfully raised $10m (£7.5m) and pioneered a number of other new fundraising initiatives.
“Last year, our programme work underwent a significant period of growth,” the charity’s chair, Manoj Badale, wrote in his introduction to the accounts. “We doubled the number of our partners from 16 to 33 and tripled our programme spend. At the same time, our approach has shifted from being grant focused to developing our own programmes with a clear ambition for change.
“During the year, we have diversified the range of the organisations we work with to include social enterprises and the private sector. We have developed strong country teams in India and Pakistan with excellent local knowledge and expertise.”
The charity said it is not expecting to see similar growth this year, but is targeting further expansion in its three year strategy.
The British Asian Trust is led by Richard Hawkes, the former chief executive of Scope. Its fundraising director during the year was Alan Gosschalk, also formerly of Scope, although he has departed to lead fundraising agency TFA.